Description
A bank letter guaranteeing buyer’s payment will be received by the seller with the correct amount and at the specified time. This facility is often used in international transactions to ensure buyer will receive the goods with the characteristics requested and seller will receive his/her money upon delivery
A letter of credit has become an important aspect of international trade because of the nature of international dealings, such as distance, different laws among countries and difficulty of knowing the other party.

Maximum Amount

Assessed on a case by case basis

Value Proposition

Consultancy Services provided by our trade finance team

Speed of process from the opening till the receipt of goods

Reasons for Rejection

Internal assessment of the Bank

Types of LC

Import Letter of Credit

A bank guarantee which is given to the importer in the local country (buyer) to pay for a specific shipment under the submission of required documents by the exporter, within a specified time period

Export Letter of CreditA bank guarantee which is given to the exporter in the local country (seller) to ensure that your company is paid for a specific shipment

Standby Letter of Credit

A bank guarantee which is given to the seller that payment will be done even if the buyer defaults to pay the bank would be responsible for it

This type is mostly used when there is an established relationship between the buyer and the seller, upon which the documentation technicalities would complicate, and this LC can be used as a last resort in case of default

Transferrable Letter of CreditA bank guarantee to the supplier who is an intermediary one; this guarantee can be transferred to one or more actual suppliers

This is mostly used when the original supplier has other beneficiaries until the product reaches to the final buyer

Back to Back CreditA bank guarantee in which export LC becomes a collateral over an import LC

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